Greenberg Gibbons, Somera Capital Management and AEW Capital Management broke ground for the Towne Centre at Laurel, a $130 million redevelopment of Laurel Mall in Laurel, Md.
The redevelopment will transform the 31-year-old enclosed center into a mixed-use project combining 400,000 sq. ft. of retail with 435 residential units.
“It’s exciting to begin transforming this property into a first-class destination,” said Brian Gibbons, chairman and CEO of Greenberg Gibbons, in a statement. “The time is right to breathe new life into this prime location, making way for the kinds of high-quality retailers and restaurants that the Laurel community deserves.”
CHM Opens Northshore Towne Center
CHM LLC held a grand opening for Northshore Towne Center, a 134-acre master-planned community in West Knoxville, Tenn.
Publix and Target anchor the retail portion of the development. Other retail tenants at the center include Barre3, The Nail Spa, Froyoz, Fusing Tanning Studios, Five Guys and Great Clips.
BRE Breaks Ground for Los Angeles Mixed-Use Project
BRE Properties broke ground for a $105 million mixed-use project at the intersection of Wilshire Blvd. and La Brea Ave. in Los Angeles.
Built on a 3.38-acre site, the 800,000-sq.-ft. project will feature 480 residential units, 44,000 sq. ft. of retail and 997 parking spaces. It is scheduled for completion in April 2013.
Bernards is serving as the construction firm on this development.
Other Notable News
Baceline Investments LLC opened an office in Austin, Texas. Dusty Batsell, the firm’s director of leasing, will oversee operations for the new office.
Bright Horizons Family Solutions and Potbelly Sandwich Shop signed leases with Muss Development LLC to occupy space at 345 Adams Street in Brooklyn, N.Y. Bright Horizons will take 15,000 sq. ft. at the building. Potbelly will occupy 2,500 sq. ft.
Wilson Commercial Real Estate promoted Scott Burns to president and partner, Shauna Mattis to senior vice president and Peter Kay to vice president. In his new position, Burns will be responsible for the strategic direction of the firm. He has been with Wilson Commercial since 1998. Mattis will oversee the leasing team. She has 15 years of experience in retail real estate. Kay will now be responsible for leasing of multiple retail centers throughout Southern California.
RKF hired Lorraine Adney as vice president. She will be based in the firm’s Chicago office. Prior to joining RKF, Adney served as director of the Midwestern division with the McDevitt Co. While there, her clients included Marc Jacobs, Urban Outfitters, Free People, Anthropologie, L’Occitane en Provence and Eileen Fisher, among others.